Just why has Minneapolis? Carlson Real Estate Company hired an investment banking firm to review the company?s 5.5-million-square-foot real estate investment portfolio?
It?s a good question. But it?s not one that Matt Van Slooten, president of Carlson Real Estate is ready to answer.
Minnesota Real Estate Journal contacted Carlson to ask why the company in February hired investment banking firm Eastdil Secured to assist it in reviewing and evaluating strategic alternatives for its real estate investment portfolio.
A spokesperson for Carlson said that Van Slooten is not available for interviews on this topic.
It is certain, though, that Carlson might be willing to sell some or all of its real estate holdings if it receives the right bids for its properties.
Carlson?s real estate portfolio includes properties in Minnesota, North Carolina and Arizona. Key properties among the Minnesota portion of the portfolio include the business park surrounding the corporate campus of the Carlson Companies in Minnetonka and the 36-story office tower in downtown Minneapolis that holds the Radisson Plaza Hotel and Plaza Seven Office Tower.
In a press release, Carlson Real Estate Company said that it has directed Eastdil to explore a full range of possibilities that could include a sale or joint-venture arrangement of its real estate business operations or portions of its portfolio.
The company?s Minnesota portfolio is anchored by several properties within Carlson Center, the business park surrounding the Carlson headquarters at the intersection of Interstate-394 and Interstate-494 in the western suburbs of Minneapolis.
CREC also owns a 36-story mixed-use project in downtown Minneapolis containing the Radisson Plaza Hotel and Plaza Seven Office Tower.
Though Van Slooten did not want to hold a telephone interview about Carlson?s arrangement with Eastdil, the company president did release an official statement: ?This is an exciting time for Carlson Real Estate. We are exploring new forms of financial arrangements from what we?ve had in the past, with the goal of maximizing the potential of our real estate business.?
Carlson Real Estate Company has operated as a separate business from Carlson?s other operating groups for more than 25 years.
Tags | Carlson Real Estate Company
? 2012 Real Estate Communications Group. Duplication or reproduction of this article not permitted without authorization from the Real Estate Publishing Group. For information on reprint or electronic pdf of this article contact Mark Menzies at 312-644-4610 or menzies@rejournals.com
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